Responding to the launch of the Real Estate Regulatory Authority (RERA), Ghassan Kachouh, Valuation Manager for Limitless, said: "We have long been calling for brokers to be qualified and licensed in order to protect Dubai's reputation as a property investment hotspot.
Now, under the watchful eye of the new authority, unscrupulous and unprofessional players in the market will be weeded out."
"At the moment, too many brokers are operating with little or no experience, often giving property buyers bad advice, poor service and underhand treatment. First time buyers in particular have no way of knowing who the professionals are, and often find out the hard way. While many agents here are trustworthy and well-established, others have simply set themselves up in property sales because they think it's an easy way to make a fast buck.
The introduction of RERA is excellent news for Dubai," he added.
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Limitless welcomes moves to regulate real estate brokers
- United Arab Emirates: Thursday, August 02 - 2007 at 15:23
- PRESS RELEASE
Moves to license and regulate real estate brokers in Dubai will boost consumer confidence in the industry, according to Limitless.
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Media enquiries: Rebecca Rees, Limitless PR on +971 4 375 9733Limitless LLC, a Dubai World company, is an integrated global real estate master developer across all market segments, delivering distinctive and sustainable developments. Established in July 2005 and built upon the philosophy of 'delivering distinction', Limitless lays claim to three specific areas of expertise that provide the company with a competitive advantage internationally - master planning large urban communities, waterfront development and the implementation of large scale balanced projects. Downtown Jebel Ali is the first Limitless development for Dubai, with other global projects to come in Europe, South East Asia, the Far East and elsewhere in the Gulf Region.
Posted by Anne-Birte Stensgaard, Senior News EditorThursday, August 02 - 2007 at 15:23 UAE local time (GMT+4)
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